85.410 Proof of experience for certified residential appraisers. An applicant seeking certification as a residential appraiser shall submit evidence satisfactory to the department that the applicant has at least 2,500 1,500 hours of appraisal experience obtained over a period of not less than 24 12 months.
Section 25. SPS 85.420 (title) and (1) (intro.), (a) (intro.) and 3., and (b) are amended to read:
SPS 85.420 (title) Certified residential appraiser course Core curriculum and educational requirements.
(1) (intro.) An individual who applies for certification as a certified residential appraiser shall submit evidence satisfactory to the department that he or she the individual has successfully completed all of the following:
(a) (intro.) The required 200 class hour core curriculum established by the appraiser qualifications board of the appraisal foundation AQB. that The required curriculum consists of all of the following subject areas and corresponding class hours:
3. The 15-hour national 15-Hour National USPAP course Course or its equivalent — 15 hours.
(b) A bachelors degree or higher in any field of study from an accredited college or university. The college or university must be a degree-granting institution accredited by the commission on colleges, a national regional accreditation association or by an accrediting agency that is recognized by the U.S. secretary of education College-level education meeting the requirements under s. SPS 85.425. Section 26. SPS 85.420 (2) (intro.) is renumbered SPS 85.420 (2) and amended to read:
SPS 85.420 (2) A licensed appraiser who applies for a certified residential appraiser credential shall complete all of the following class hour courses identified hours under par. sub. (1) (a) 8. to 10. and the college-level educational education meeting the requirements under sub. (1) (b): s. SPS 85.425. Section 27. SPS 85.420 (2) (a) to (c) are repealed.
Section 28. SPS 85.425 is created to read:
SPS 85.425 Qualifying college-level education. (1) Except as provided under sub. (2), an applicant shall satisfy one of the following requirements:
(a) A bachelor’s degree or higher in any field of study from an accredited, degree-granting college or university.
(b) An associate’s degree from an accredited, degree-granting college or university in a field of study related to one of the following:
1. Business administration.
2. Accounting.
3. Finance.
4. Economics.
5. Real estate.
(c) Successful completion of 30 semester hours of college-level courses from an accredited, degree-granting college or university. The 30 semester hours shall include all of the following:
1. Three semester hours in English composition.
2. Three semester hours in microeconomics.
3. Three semester hours in macroeconomics.
4. Three semester hours in finance.
5. Three semester hours in algebra, geometry, or higher mathematics.
6. Three semester hours in statistics.
7. Three semester hours in computer science.
8. Three semester hours in business law or real estate law.
9. Two elective courses of 3 semester hours each. Each course shall be in the subject area of accounting, geography, agricultural economics, business management, real estate, or one of the subject areas under subds. 1. to 8.
(d) Successful completion of all of the following College Level Examination Program examinations:
1. College Algebra.
2. College Composition.
3. College Composition Modular.
4. College Mathematics.
5. Principles of Macroeconomics.
6. Principles of Microeconomics.
7. Introductory Business Law.
8. Information Systems.
(e) Successful completion of any combination of the college-level courses and examinations under pars. (c) and (d) that is equivalent to at least 30 semester hours and applicable to all of the subject matter under par. (c). For purposes of this paragraph, all of the following shall apply:
1. The examination under par. (d) 1. is equivalent to 3 semester hours and applicable to algebra, geometry, statistics, or higher mathematics.
2. The examination under par. (d) 2. is equivalent to 6 semester hours and applicable to English composition.
3. The examination under par. (d) 3. is equivalent to 3 semester hours and applicable to English composition.
4. The examination under par. (d) 4. is equivalent to 6 semester hours and applicable to algebra, geometry, statistics, or higher mathematics.
5. The examination under par. (d) 5. is equivalent to 3 semester hours and applicable to macroeconomics or finance.
6. The examination under par. (d) 6. is equivalent to 3 semester hours and applicable to microeconomics or finance.
7. The examination under par. (d) 7. is equivalent to 3 semester hours and applicable to business law or real estate law.
8. The examination under par. (d) 8. is equivalent to 3 semester hours and applicable to computer science.
(2) The department shall consider an applicant to meet the requirements under sub. (1) if, during the 5 years immediately preceding the date of application, the applicant has been a licensed appraiser and has not been subject to any adverse, final, and non-appealable disciplinary action affecting eligibility to engage in appraisal practice.
Section 29. SPS 85.430 (1) is amended to read:
SPS 85.430 (1) (intro.) An applicant for a certified residential appraiser credential must shall successfully complete the AQB-approved certified residential real property appraiser examination. The prerequisite for taking the AQB-approved examination is completion of all of the following:
(a) Two hundred creditable The 200 class hours as specified in the course requirements found in under s. SPS 85.420 (1) (a). As part of the 200 required hours, applicants shall successfully complete the 15-hour national 15-Hour National USPAP course Course or its AQB-approved equivalent, and the corresponding examination. (b) Completion of a bachelor's degree or higher from an accredited college or university college-level education meeting the requirements under s. SPS 85.425. (c) Two One thousand five hundred hours of qualifying experience obtained in no fewer than 24 12 months. While the hours may be cumulative, the required number of months must shall accrue before an individual can may be certified.
SUBCHAPTER V
LICENSED REAL ESTATE APPRAISER
Section 31. SPS 85.500 and 85.510 is amended to read:
SPS 85.500 Licensed appraiser. A licensed appraiser may conduct appraisals of complex 1-to-4 family residential property having a transaction value of not more than $250,000;, non-complex 1-to-4 family residential property having a transaction value of not more than one million dollars, and commercial real estate having a transaction value of not more than $250,000 500,000.
85.510 Proof of experience for licensed appraisers. An applicant seeking licensure as an appraiser shall submit evidence satisfactory to the department that the applicant has at least 2,000 1,000 hours of appraisal experience obtained over a period of not less than 12 6 months.
Section 32. SPS 85.520 (intro.) and (3) are amended to read:
SPS 85.520 (intro.) Licensed appraiser course Core curriculum requirements. An individual who applies for a license as an appraiser shall submit evidence satisfactory to the department that he or she the individual has successfully completed the required 150 class hour core curriculum established by the Appraiser Qualifications Board of the Appraisal Foundation AQB. that The required curriculum consists of all of the following subject areas and corresponding class hours:
(3) The 15-hour national 15-Hour National USPAP course Course or its equivalent — 15 hours.
Section 33. SPS 85.520 (8) and (9) are repealed.
Section 34. SPS 85.530 (1) (intro.) and (a) are amended to read:
SPS 85.530 (1) (intro.) An applicant for a licensed appraiser credential must shall successfully complete the AQB-approved licensed residential real property appraiser examination. The prerequisite for taking the AQB-approved examination are all is completion of all of the following:
(a) One hundred and fifty creditable The 150 class hours as specified in the course requirements found in under s. SPS 85.520.
Section 35. SPS 85.530 (1) (b) is repealed.
Section 36. SPS 85.530 (1) (c) is amended to read:
SPS 85.530 (1) (c) Two One thousand hours of qualifying experience in no fewer than 12 6 months.
Section 37. SPS 85.600 (1), (Note), (2), and (3) are amended to read:
SPS 85.600 (1) In order to obtain a residential or general appraiser certification or a certificate of licensure as an appraiser, an applicant shall pass the national examination required for certification as a residential appraiser or general appraiser or for licensure, as appropriate, and the state examination on Wisconsin statutes and rules of this state governing appraisers.
(Note) The examination on Wisconsin statutes and rules is administered by the Department of Safety and Professional Services department. The national examination is administered by a provider approved by the department.
(2) The national examination required for appraiser certification or licensure shall be consistent with and equivalent to the uniform state certification examination issued or endorsed by the appraiser qualifications board of the appraisal foundation AQB.
(3) A score determined by the department to represent minimum competence to practice is required to pass each examination. The department may adopt the passing grade on the national examination recommended by the examination provider. Following consultation with subject matter experts who have reviewed a representative sample of the examination questions and available candidate performance statistics, the department shall make a determination of determine the passing grade on for the Wisconsin examination on statutes and rules of this state. examination and The department shall set the passing score for the statutes and rules examination at that point which represents to represent minimum acceptable competence in the profession.
Section 38. SPS 85.610 (1) and (2) (intro.), (a), and (b) are amended to read:
SPS 85.610 (1) An applicant shall may not practice any deception or fraud with respect to his or her the applicant’s identity in connection with the taking of an examination.
(2) (intro.) An applicant shall may not cheat or attempt to cheat on an examination by any means, including but not limited to, any one of the following:
(a) Giving or receiving attempting to give examination questions or answers to examination questions to another person.
(b) Attempting to obtain, receive Receiving or communicate to other persons attempting to receive examination questions or answers to examination questions from another person.
Section 39. SPS 85.630 (1) (d) and (2) are amended to read:
SPS 85.630 (1) (d) The facts which the applicant intends to prove, including reference text citations to references or other supporting evidence for the applicant's claim.
(2) The department shall review the claim, make a determination of as to the validity of the objections claim and notify the applicant in writing of the decision and any resulting score changes.
Section 40. SPS 85.700 (1) (intro.) and (a) are amended to read:
SPS 85.700 (1) (intro.) The work claimed under ss. SPS 85.310, 85.410, and 85.510 for appraisal experience credit shall be approved by the department and shall accomplish meet all of the following requirements:
(a) Be in compliance with the uniform standards Uniform Standards of professional appraisal practice, Professional Appraisal Practice in effect at the time the appraisals were prepared.
Section 41. SPS 85.700 (1) (b) is renumbered SPS 85.700 (1) (b) (intro.) and amended to read:
SPS 85.700 (1) (b) (intro.) Include one or more of the following types of appraisal experience: appraisal, appraisal review, appraisal consulting or mass appraisal.
Section 42. SPS 85.700 (1) (b) 1. to 4. are created to read:
SPS 85.700 (1) (b) 1. Appraisal.
